The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-06-02
A SAMPLE CASE.

The following illustrates the effect
which the dog in the manager policy of hostil-
ity to foreign capital is having on the growth
and prosperity of the city. A few weeks ago,
about the beginning of our natural gas boom,
and before the advocates of the stage coach,
talow-dip policy had begun to make them
selves felt, an Eastern capitalist came here
with a view of investing. His name is in the
possession of the Journal, but it is not neces-
sorry to an understanding of the case. He is
largely engaged in manufacturing, employees
1000 to 1900 men, and controls large
amount of capital. After spending a few
days here, and consulting with well-known
legal firm, he was so favorably impressed with
the situation and with the then prospect of
getting natural gas, that he concluded to
invest Having determined on buying some
suburban property, he telegraphed his agent
in the city of his residence to have $40, 900
placed to his credit in a bank of this city by
wire. In O few hours word came that
the arrangement had been made, and
the money subject to his order.
Some delay occurred in the negotiation and
action was postponed few days. Meanwhile
the obstructionists began to get in their work,
and the opponents of 'foreign capital were
making themselves felt. The gentleman was
somewhat surprised at this turn of affairs, and
told his attorneys he did not altogether like
it. He was in no way connected, directly or
remotely, with any oil or gas company, but
was proposing to invest here on the strength
of the gas prospects they appeared at that
time. The development of the hold back pol
icy and the senseless opposition to foreign
capital set him to thinking. He finally con-
cluded to wait little while, and returned
home He was still strongly inclined TO in
vest, but determined to wait further develop
ments Just after he left the Council passed
the grab-a1 ordinance On Saturday last the
gentleman's attorneys received a letter from
him stating that he had concluded not to in
vest We are permitted to-quote the follow
ing passage from his letter:
az am careful reader of the indianapolis
papers and l must say that the action of your
CITY Council is the most dog-in- the manager
style OF doing business that L have ever seen.
1t will be impossible in my opinion to find
strangers who will dare to take the risk of
laying pipe under any such ordinance as the
Council has passed, and with the spirit mani
tested toward them. Unless the people rise
en- masse and demand protection to those who
are willing to grapple so big an undertaking l
predict that you will have no natural gas in
Indianapolis within the next year. 1t was
this spirit of hostility towards foreign capital
that influenced me to withdraw my proposed
investments at present. Such lack of en-
terprise and public spirit will certainly deter
men with means from risking their money
there"
This is typical case, and doubtless there
are more such. In this case the first invest
ment would have led to others. these to still
others. and so on. No privilege or franchise
| of any kind was asked for. 1t was not the de-
nial of anything sought for that drove this
capital away from the city; it simply the
| lack of enterprise and the churlish, grasping
spirit of hostility to foreign capital, the dis
position to shut the door in its face rather
| than give it cordial welcome. The gentle
man argued that such disposition bespoke a
lack Of enterprise and narrow gauge method